DBA vs. SGLN.L
DBA (Invesco DB Agriculture Fund) and SGLN.L (iShares Physical Gold ETC) are both exchange-traded funds - DBA is a Agricultural Commodities fund tracking the DBIQ Diversified Agriculture Index TR, while SGLN.L is a Gold fund tracking the LBMA Gold Price. Both are passively managed. Over the past 10 years, DBA returned 3.00%/yr vs 12.93%/yr for SGLN.L. At a 0.12 correlation, their price movements are largely independent. DBA charges 0.94%/yr vs 0.12%/yr for SGLN.L.
Performance
DBA vs. SGLN.L - Performance Comparison
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Different Trading Currencies
DBA is traded in USD, while SGLN.L is traded in GBp. To make them comparable, the SGLN.L values have been converted to USD using the latest available exchange rates.
Returns By Period
In the year-to-date period, DBA achieves a 3.17% return, which is significantly higher than SGLN.L's 0.50% return. Over the past 10 years, DBA has underperformed SGLN.L with an annualized return of 3.00%, while SGLN.L has yielded a comparatively higher 12.93% annualized return.
DBA
- 1D
- -0.27%
- 1M
- -5.86%
- YTD
- 3.17%
- 6M
- 3.33%
- 1Y
- -0.73%
- 3Y*
- 11.90%
- 5Y*
- 9.41%
- 10Y*
- 3.00%
SGLN.L
- 1D
- 0.00%
- 1M
- -7.99%
- YTD
- 0.50%
- 6M
- 3.21%
- 1Y
- 29.88%
- 3Y*
- 30.09%
- 5Y*
- 17.90%
- 10Y*
- 12.93%
DBA vs. SGLN.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
DBA Invesco DB Agriculture Fund | 3.17% | -0.56% | 33.45% | 7.64% | 2.53% | 22.37% | -2.54% | -0.71% | -8.74% | -6.06% |
SGLN.L iShares Physical Gold ETC | 0.49% | 65.25% | 26.06% | 12.89% | -0.12% | -3.71% | 23.60% | 19.23% | -1.55% | 11.36% |
Correlation
The correlation between DBA and SGLN.L is 0.04, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.04 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.10 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.13 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.10 |
Correlation (All Time) Calculated using the full available price history since Apr 8, 2011 | 0.12 |
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Return for Risk
DBA vs. SGLN.L — Risk / Return Rank
DBA
SGLN.L
DBA vs. SGLN.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco DB Agriculture Fund (DBA) and iShares Physical Gold ETC (SGLN.L). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.
| DBA | SGLN.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.29 | ||
| Sortino ratioReturn per unit of downside risk | -1.66 | ||
| Omega ratioGain probability vs. loss probability | 1.00 | 1.23 | -0.24 |
| Calmar ratioReturn relative to maximum drawdown | -0.09 | 1.61 | -1.70 |
| Martin ratioReturn relative to average drawdown | -0.18 | 4.24 | -4.42 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| DBA | SGLN.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -0.07 | 1.22 | -1.29 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.67 | 0.79 | -0.12 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.23 | 0.69 | -0.46 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.07 | 0.18 | -0.11 |
Drawdowns
DBA vs. SGLN.L - Drawdown Comparison
The maximum DBA drawdown since its inception was -67.97%, which is greater than SGLN.L's maximum drawdown of -56.74%. Use the drawdown chart below to compare losses from any high point for DBA and SGLN.L.
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Drawdown Indicators
| DBA | SGLN.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -67.97% | -56.74% | -11.23% |
Max Drawdown (1Y)Largest decline over 1 year | -8.35% | -18.44% | +10.09% |
Max Drawdown (3Y)Largest decline over 3 years | -12.36% | -19.67% | +7.31% |
Max Drawdown (5Y)Largest decline over 5 years | -15.94% | -21.27% | +5.33% |
Max Drawdown (10Y)Largest decline over 10 years | -40.72% | -21.27% | -19.45% |
Current DrawdownCurrent decline from peak | -27.37% | -18.44% | -8.93% |
Average DrawdownAverage peak-to-trough decline | -41.10% | -33.03% | -8.07% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.16% | 7.02% | -2.86% |
Volatility
DBA vs. SGLN.L - Volatility Comparison
The current volatility for Invesco DB Agriculture Fund (DBA) is 4.09%, while iShares Physical Gold ETC (SGLN.L) has a volatility of 5.64%. This indicates that DBA experiences smaller price fluctuations and is considered to be less risky than SGLN.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| DBA | SGLN.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.09% | 5.64% | -1.55% |
Volatility (6M)Calculated over the trailing 6-month period | 6.58% | 21.23% | -14.65% |
Volatility (1Y)Calculated over the trailing 1-year period | 10.73% | 24.49% | -13.76% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 14.09% | 22.63% | -8.54% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 13.07% | 18.77% | -5.70% |
DBA vs. SGLN.L - Expense Ratio Comparison
DBA has a 0.94% expense ratio, which is higher than SGLN.L's 0.12% expense ratio.
Dividends
DBA vs. SGLN.L - Dividend Comparison
DBA's dividend yield for the trailing twelve months is around 3.47%, while SGLN.L has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
DBA Invesco DB Agriculture Fund | 3.47% | 3.58% | 4.08% | 4.63% | 0.48% | 0.00% | 0.00% | 1.55% | 1.06% |
SGLN.L iShares Physical Gold ETC | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
DBA and SGLN.L have a correlation of 0.04, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, SGLN.L is cheaper at 0.12% per year. The better choice depends on whether you care most about return, fees, risk, or income.
SGLN.L is cheaper with a 0.12% expense ratio, compared with 0.94% for DBA.
DBA is categorized as Agricultural Commodities, while SGLN.L is Gold. DBA tracks DBIQ Diversified Agriculture Index TR, while SGLN.L tracks LBMA Gold Price. They also come from different issuers: Invesco and iShares. Their fees differ too: 0.94% for DBA and 0.12% for SGLN.L.
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